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You just settled an insurance claim. The settlement calls for increasing payments over a 10- year period. The first payment will be paid one year
You just settled an insurance claim. The settlement calls for increasing payments over a 10- year period. The first payment will be paid one year from now in the amount of $11,000. The following payments will increase by 5 percent annually. What is the value of this settlement to you today if you can earn 9 percent on your investments?
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